New Delhi [India], January 2 (ANI): Vedanta (Aluminium Business) has signed a Memorandum of Understanding with Gujarat Alkalies and Chemicals (GACL), for exploring various business opportunities in the areas of caustic-chlorine and other allied businesses.
In a joint press release, they said they aimed to recognise the potential of adding value to the businesses of both Vedanta Aluminium and Gujarat Alkalies and Chemicals, by adopting a collaborative approach based on their complementary skills, strengths, and common business interests to achieve synergy.
Accordingly, both companies desire to explore opportunities for cooperation in greater detail so that resources can be pooled together in a mutually beneficial manner. This is also in line with Vedanta Aluminium’s efforts towards vertical integration.
With this MoU, both companies have, in principle, agreed to jointly explore business opportunities either in the form of a joint venture project or through contractual arrangements of mutual interest.
Gujarat Alkalies and Chemicals (GACL) was established in 1973 in Vadodara, Gujarat, to manufacture caustic soda and allied products. It is promoted by the Gujarat government.
From an initial capacity of 37,425 tonnes per annum of caustic soda, the organisation has enhanced its capacity to 852,400 tonnes per annum, with manufacturing facilities spread over four complexes, two in Vadodara and two in Dahej.
Gujarat Alkalies and Chemicals now offers more than 35 products used as raw materials in various industries. (ANI)
This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.